Jacobs Levy Equity Management Inc. Has $12.75 Million Stock Holdings in PBF Energy Inc. (NYSE:PBF)

Jacobs Levy Equity Management Inc. decreased its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 412,065 shares of the oil and gas company’s stock after selling 1,937 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.36% of PBF Energy worth $12,753,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Tidal Investments LLC grew its stake in shares of PBF Energy by 10.2% in the 1st quarter. Tidal Investments LLC now owns 7,820 shares of the oil and gas company’s stock worth $450,000 after acquiring an additional 726 shares in the last quarter. Comerica Bank grew its position in PBF Energy by 13.9% during the first quarter. Comerica Bank now owns 50,951 shares of the oil and gas company’s stock valued at $2,933,000 after buying an additional 6,219 shares during the period. CWM LLC grew its position in PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after buying an additional 569 shares during the period. Simplicity Wealth LLC grew its position in PBF Energy by 72.2% during the second quarter. Simplicity Wealth LLC now owns 11,861 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 4,975 shares during the period. Finally, Csenge Advisory Group bought a new position in PBF Energy during the second quarter valued at about $221,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Down 1.9 %

PBF Energy stock opened at $31.29 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. PBF Energy Inc. has a 12 month low of $27.94 and a 12 month high of $62.88. The stock has a market capitalization of $3.60 billion, a PE ratio of -12.08 and a beta of 1.57. The business has a 50 day simple moving average of $31.48 and a 200-day simple moving average of $36.83.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The company had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The firm’s quarterly revenue was down 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.61 earnings per share. On average, analysts anticipate that PBF Energy Inc. will post -2.86 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio is -42.47%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Piper Sandler lowered shares of PBF Energy from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $47.00 to $25.00 in a research report on Friday, September 20th. BMO Capital Markets downgraded shares of PBF Energy from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $42.00 to $35.00 in a research note on Friday, October 4th. Wells Fargo & Company decreased their price target on shares of PBF Energy from $51.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. UBS Group cut their target price on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Finally, Mizuho cut their price target on shares of PBF Energy from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.18.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital acquired 287,100 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were acquired at an average price of $31.91 per share, for a total transaction of $9,161,361.00. Following the acquisition, the insider now owns 24,751,498 shares in the company, valued at $789,820,301.18. The trade was a 1.17 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have bought 3,938,100 shares of company stock valued at $122,901,631. Corporate insiders own 6.20% of the company’s stock.

PBF Energy Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.